Bitcoin is Sucking Liquidity Out of Every Major Market, Charts Show

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On Wednesday, Bitcoin evangelist and Wall Street investor Raoul Pal published a series of charts that pitted the cryptocurrency against major financial markets. Every graph appeared identical to one another, for they showed how the mainstream assets/indexes were trending lower against Bitcoin, to a point where they all tested a medium-term support trendline. They included gold, the Nasdaq Composite, and its sub-indexes/stocks, which include KBW Bank Index, Treasury Bond ETF Fund, silver, Amazon stock, and others. Gold is looking to attempt a negative breakout against Bitcoin once it closes below the rising trendline support. Source: Bloomberg Terminal Mr. Pal noted that every index/asset was looking to break bearish on the support trendline. The prediction pointed towards more strength for Bitcoin as it compared the crypto with a “supermassive black hole that is sucking in everything around it and destroying it.” “You see, gold is breaking down versus bitcoin,” Mr. Pal…

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